ECONOMY

Shipping Report

TANKERS There has been a considerably decrease in rates for Suezmaxes in all areas, with the Med. and Cont. at W/S 95 for 135,000-ton cargoes, while in W. Africa rates are near W/S 100 for 130,000-ton cargoes with Med. destinations. – Aframaxes weaker in the Med. and Cont., with Karran having fixed M/T «Sereno II» for 80,000 tons of cargo, loading April 13 Black Sea, discharging Med., at W/S 100, while Petroplus in the Cont. has fixed Lundqvist tonnage for same cargo quantity, loading April 7 UK, discharging Antwerp, at W/S 125. – In Caribs, the situation is quite the opposite due to an increased demand for lightering purposes. The 70,000-ton cargo liftings are being fixed at W/S 210. – In the Med., CTC for 80,000 tons of cargo, loading April 12 Russia, discharging UKC/Med., has fixed Minerva tonnage at W/S 125. – In the Cont. and on Suezmaxes, Irving has fixed Alliance tonnage for 130,000 tons of cargo, loading April 8 for Canada for a round trip, at W/S 165. – In Caribs, Emerald for 70,000 tons of cargo, loading April 7 Colombia, discharging US Gulf, has fixed AET tonnage at W/S 175. – In W. Africa, Sun for 130,000 tons of cargo, loading April 15, discharging USAC, has fixed M/T «Pentathlon» at W/S 125. – In Arabian Gulf, Sinochem for 130,000 tons of cargo, loading April 19, discharging China, has fixed front TBN at W/S 142.5. DRY CARGO New cargoes for Capesizes remain very limited. – Panamax market is showing firmer rates but fixings so far have been limited. Owners continue to ask high numbers and claim to have seen strong rates, particularly for trips to the Far East. M/V «Thrasyvoulos,» 66,908 dwt, built 1984, delivery Constanza end March, redelivery Singapore-Japan, is reported to have been fixed at USD 17,250 daily. – Far East quieter with interest focused on short T/C periods. M/V «Sea Lotus,» 72,270 dwt, built 1999, delivery Japan for 4-6 months’ trading, has been fixed at USD 14,000 daily. – On Handymaxes, rates remain very strong for tonnage, especially that loading out of East Coast, S. America. – On Panamaxes in Far East, Coeclerici has fixed M/V «Endeavor,» 71,200 dwt, built 1996, delivery Korea beg. April for 3-5 months’ trading, at USD 12,250 daily. – In Atlantic, Worthington has fixed M/V «Scythia Graeca,» 74,133 dwt, built 2002, delivery April 3-5 UK, trip via Brazil, redelivery UKC/Med., at USD 15,000 daily. – On smaller sizes, Oldendorff has fixed M/V «Megas Alexandros,» 47,409 dwt, built 1983, delivery April 10-15 Brazil, redelivery Far East, at USD 15,250 daily and USD 230,000 ballast bonus. – On grain cargoes, Raiffeisen for 50,000 tons of cargo, loading Germany April 1-10, discharging Turkey, has fixed M/V «Estable Duckling» at USD 13.90 per ton with 8,000-ton load and 5,000 tons discharge.